In May 2025, Zach Witkoff, the son of billionaire Steve Witkoff, announced at a Dubai conference—while sitting beside Eric Trump—that he’d collected $2 billion from Sheikh Tahnoon bin Zayed Al Nahyan, who controls the sovereign wealth fund of the United Arab Emirates. That $2 billion purchased a stablecoin called USD1 from World Liberty Financial, a crypto firm of which Streve and Zach Witkoff are co-founders, and in which the Trump family owns a 60% stake. It was, according to Binance (another participant in the deal), “the single largest investment into a crypto company” that the world had ever seen.
Around the same time Zach Witkoff announced the UAE investment, his father said he was divesting his own stake in World Liberty Financial. (That still hasn’t actually happened, of course.)
What was worth $2 billion to UAE? By what we’re supposed to believe is sheerest coincidence, two weeks after the younger Witkoff announced Sheik Tahnoon’s stablecoin purchase, President Donald Trump agreed to allow the UAE to import a large quantity of U.S.-produced AI computer chips, with many of those chips going to a company named G42 that just happens to be controlled by… Sheikh Tahnoon.
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